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Equitas Small Finance Bank on Wednesday posted a 80 per cent decline in net profit to Rs 42.11 crore during the March quarter, mainly due to increased provisioning.
The bank had posted a net profit of Rs 207.62 crore in the year-ago period.
Its total income rose to Rs 1,869.41 crore during the January-March period of FY25 from Rs 1,685 crore in the year-ago period, Equitas Small Finance Bank said in a stock exchange filing.
On the asset quality front, the bank's gross non-performing assets (NPAs) ratio rose to 2.89 per cent in the quarter under review against 2.61 per cent a year ago. However, net NPAs, or bad loans, improved to 0.98 per cent from 1.17 per cent at the end of the fourth quarter of the last fiscal.
The total value of gross NPAs was at Rs 1,068 crore during the quarter under review, higher than Rs 821.3 crore in the January-March quarter of FY24.
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The bank's provisions, other than taxes, and contingencies rose to Rs 258 crore from Rs 107 crore.
The bank's net worth stood at Rs 6,073 crore as of March 31, 2025.
Shares of Equitas Small Finance Bank settled 2.83 per cent lower at Rs 67 on the BSE.
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